ABSTRACT
The issues evolving out of concentration in industry have for a great number of years—indeed for much too long a period—been identified with monopoly. While monopoly may emanate from concentration in industry, concentration in industry may, without leading to anything like actual monopoly, represent a permanent modern feature of industrial organization having a much broader structural significance than is possessed merely by one of its forms as represented by industrial combination. There are many good reasons for the changing aspect of monopolist price policy. First of all, time has shown that the monopolist position should not be overrated by the public or the industrial consumer, nor overstrained by the monopolists. With the "Great Depression" the level of prices of the principal products and especially of the key products has sagged so much, that a gradual lifting of this level is generally accepted as highly desirable. This has nothing to do with any kind of "reflation".
